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Property Management

Property management involves the processes, systems and manpower required to manage the life cycle of rental housing properties, including acquisition, control, accountability, responsibility, maintenance, utilization and disposition. There are many facets to this industry and profession and PMI covers them all.

According to the National Oceanic and Atmospheric Association, the U.S. has made substantial progress against the drought that has persisted in recent years. In January, 71.2 percent of the contiguous U.S. had no drought, compared to 53.6 percent a year ago. Water reservoirs are back to normal or exceeding capacity in some parts. Water conservation[…]

Having a well-orchestrated plan for turning student housing units is as essential as a well-written mid-term paper. Because providers require all units to be turned at once, sound project management and a seamless plan are necessary to keep a steady workflow. A hiccup with a contractor can be costly and potentially jeopardize inventory availability. Creating[…]

There seems to be an increase in activity in the monitoring of accessibility compliance at multifamily properties across the country. 2015 brought us the 25th anniversary of the signing of the Americans with Disabilities Act of 1990 (ADA). ADA protects against discrimination based on disability and imposes accessibility requirements on public accommodations. Since most multifamily properties have a leasing office and common area[…]

In the world of touching up or repainting to turn or redevelop apartments, what you see is really what you get. Using cheaper paints may look good at first glance but in certain lighting situations can show the wear and tear on walls caused by previous occupants. Using quality paint could save money for apartments[…]

You couldn’t help but like Dwayne Schneider, the Casanova-wanna-be superintendent who sauntered into our living rooms in the 1970s. Clad in a white t-shirt, blue jean vest and pants and tool belt, the slender, stylish Schneider became America’s lovable maintenance man who flushed the stereotypes of overweight and sloppy apartment repairmen in “One Day at[…]

The advent of the electronic signature has been celebrated in every contract-laden business, and ours is no exception. The electronic signature frees renters from a trip to the front office during leasing, making the leasing process convenient and paperless while saving the front office staff time. Now renters can take care of leasing from front[…]

Financial trends above or below the expected budget can be tricky to diagnose. Fluctuations within a budgeted expense or revenue category that happen because of abnormalities or for other reasons make managing the bottom line more challenging. Responding quickly with a solution to offset the peaks or valleys in actuals versus the plan is important[…]

Holy conference season for 2016! Let’s face it, budgets get smaller, time more precious, and we have too much to do at the office to leave for more than a minute. And then there are many multifamily industry conferences offering everything under the sun we’ll need to help us do our job more efficiently (and[…]

In the property management business, too much data is still vulnerable to theft or destruction. Security concerns are more widespread than ever—and for good reason. Even if you’re keeping documents under lock and key, you might not be as secure as you think.

Renters insurance policies come in varying sizes and shapes, and can be bundled with other coverages in an attempt to provide a better rate. But lumping renters insurance with auto policies and/or other types of coverage may cost residents more in the long run, or even force inadvertent cancellations. That doesn’t bode well for property[…]